DBS and Univers Unite to Accelerate Net Zero in Asia
DBS Group Holdings Ltd
DBS and Univers, formerly known as Envision Digital, the Singapore-based leader in decarbonisation software on a global scale, have joined hands to announce a Memorandum of Understanding (MOU).
Their collaborative aim is to expedite the adoption of cost-effective digital solutions geared towards enhancing the measurement and tracking of carbon emissions, thereby propelling Asia's energy transition forward.
Under this MOU, DBS, with its sustainable financing capabilities, and Univers, with its digital expertise, will provide a comprehensive solution to support companies, particularly small and medium-sized enterprises (SMEs), in their quest for decarbonisation.
DBS, as a purpose-driven financial institution, was among the pioneers in the industry to assist SME customers in advancing their sustainability objectives. In the year 2022 alone, DBS allocated S$100 million in green financing initiatives tailored for SMEs, which included financing for green renovation projects.
Univers, on the other hand, stands as a global frontrunner in delivering end-to-end solutions for enterprise energy and carbon management. Empowered by Artificial Intelligence and the Internet of Things (AIoT), their proprietary software, EnOS™ Ark, serves as a centralised data source for tracking, measuring, and optimising emissions.
This, in turn, facilitates the efficient management and enhancement of operational processes. Univers' system currently connects more than 220 million smart devices and 550 gigawatts of energy assets on a global scale.
By harnessing the capabilities of EnOS™ Ark, DBS will bolster its commitment to achieving net-zero emissions by assisting SME clients in obtaining a more precise and comprehensive grasp of their initial carbon footprint. Furthermore, this partnership will identify areas of emission concentration within supply chains and recommend strategies to transition toward more sustainable business models.
Both entities will also collaborate in identifying cloud partners across the region to expedite the platform's adoption. Pilot testing will commence with DBS' SME clients in key regions such as Hong Kong, India, Mainland China, and Singapore.
This initiative will initially target sectors including logistics, retail, renewable energy, and manufacturing, with potential expansion into other industries based on evolving market dynamics.
Tan Su Shan, Group Head of Institutional Banking at DBS, remarked, "As a signatory of the Net-Zero Banking Alliance, DBS is committed to aligning its lending and investment portfolios with net-zero emissions by 2050. Our success is intertwined with our clients’ ability to accelerate their decarbonisation agendas.
"Bridging the data gap is a key hurdle that companies face when it comes to reducing their carbon footprints because you can only manage what you can measure. By partnering with Univers, we can help our clients – from large corporates to SMEs – easily access cutting-edge digital solutions and sustainable financing to make the transition to net zero."
Michael Ding, Global Executive Director at Univers, added, "We look forward to providing the decarbonisation solution that DBS and their clients require to accelerate their sustainability efforts. With EnOS™ Ark, we aim to bring on board companies of all sizes across various industries, enabling them to achieve their net-zero goals."
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